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Murdoch backs off from Microsoft battle

News Corp has declined to fight for a stake in Yahoo, leaving the field open for Microsoft.

Earlier reports speculated that News Corp could include MySpace in a deal with Yahoo. News Corp would have ended up with 20% of Yahoo.However, Rupert Murdoch has come out and said he won't get into a fight with Microsoft over a piece of Yahoo."We're not going to get into a fight with Microsoft, which has a lot more money than us," he told investors yesterday.